Victory Capital Management Inc. increased its stake in Federal Signal Co. (NYSE:FSS – Get Rating) stock by 50.2% during Q1, according to its latest 13F filing with the SEC. The company held 27,090 shares of the conglomerate after purchasing an additional 9,056 shares during the period. Victory Capital Management Inc.’s holdings in Federal Signal were worth $922,000 at the end of the last quarter.
Other hedge funds and other institutional investors also bought and sold shares of the company. Eaton Vance Management increased its stake in Federal Signal by 12.6% in the fourth quarter. Eaton Vance Management now owns 3,462 shares of the conglomerate worth $83,000 after acquiring 388 additional shares last quarter. Keebeck Alpha LP acquired a new position in Federal Signal during the fourth quarter worth $225,000. PDT Partners LLC increased its stake in Federal Signal by 13.0% during the fourth quarter. PDT Partners LLC now owns 6,418 shares of the conglomerate worth $278,000 after purchasing an additional 738 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Federal Signal by 15.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 6,701 shares of the conglomerate valued at $291,000 after purchasing an additional 919 shares during the period. Finally, Hudson Value Partners LLC increased its stake in Federal Signal shares by 12.2% in the 1st quarter. Hudson Value Partners LLC now owns 8,760 shares of the conglomerate valued at $296,000 after purchasing an additional 950 shares during the period. Hedge funds and other institutional investors hold 91.53% of the company’s shares.
Analysts set new price targets
Separately, Raymond James cut its price target on Federal Signal from $46.00 to $45.00 and set a “Strong Buy” rating for the company in a Tuesday, April 26 research report. Two investment analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.
Federal Signal Stock Performance
FSS shares opened at $43.01 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.67 and a debt ratio of 0.40. The company has a 50-day moving average of $37.43 and a two-hundred-day moving average of $35.73. Federal Signal Co. has a 52-week low of $31.86 and a 52-week high of $48.88. The company has a market capitalization of $2.61 billion, a P/E ratio of 25.75 and a beta of 0.96.
Federal Signal (NYSE:FSS – Get Rating) last released quarterly earnings data on Wednesday, July 27. The conglomerate reported earnings per share (EPS) of $0.53 for the quarter, beating the consensus estimate of $0.47 by $0.06. Federal Signal had a return on equity of 13.67% and a net margin of 7.92%. The company had revenue of $367.00 million in the quarter, versus a consensus estimate of $364.80 million. In the same period a year earlier, the company posted earnings per share of $0.50. The company’s revenue increased 9.7% year over year. As a group, analysts expect Federal Signal Co. to post EPS of 1.96 for the current year.
Federal Signal Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2. Investors of record on Friday August 19 will receive a dividend of $0.09 per share. The ex-dividend date is Thursday, August 18. This represents an annualized dividend of $0.36 and a yield of 0.84%. Federal Signal’s payout ratio is 21.56%.
About Federal Signal
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Federal Signal Corp. engages in the design and manufacture of integrated products and solutions for municipal, government, industrial and commercial customers. It operates through the segments of Environmental Solutions Group and Safety and Security Systems Group. The Environment Solutions Group segment is involved in the manufacture and supply of street sweepers, sewer cleaners, vacuum trucks, hydro excavation trucks and wet stripping equipment.
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